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V.S. Datey on Companies Act, 2013
  • Co. law

    by CHETAN on Monday, July 12, 2021 at 01:45 AM

    Dear Sir, Mr. X is M.D of a company. He will complete his tenure on 30th August. One of the directors wants to get appointed as M.D. Query- Can this be said to be re-appointment in office of M.D ?? 2) Whether it is fresh appointment u/s 196 in above case ?? 3) If a Related party transaction exceeds the limits u/s 188 , then whether only Ordinary resolution is required or BOTH ORDINARY RESOLUTION & BOARD MEETING IS REQUIRED ??

    Replied byV.S. Datey Monday, July 12, 2021 at 09:29 AM

    not clear - if he himself is appointed then it will be re-appointment - what is issue? 2. prctically all formalities required for fresh appointment have to be complied with 3. ordinary resolution - but Board resolution required to implement resolution passed in general body meeting V S Datey

 
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